IBM Q1 2014 result: revenue dips 4%, income falls 21%

Enterprise IT vendor IBM today said its revenue in Q1 2014 decreased 4 percent to $22.5 billion, while its income fell 21 percent to $2.4 billion.

The results include the impact of a charge of $870 million for workforce rebalancing and a gain of nearly $100 million for the divestiture of the customer care outsourcing business, said IBM.

“In the first quarter of 2014, we continued to take actions to transform parts of the business and to shift aggressively to our strategic growth areas including cloud, big data analytics, social, mobile and security,” said Ginni Rometty, IBM chairman, president and chief executive officer.